Originally posted by: BoomerD
http://www.getrichslowly.org/b...arns-the-minimum-wage/
"According to the U.S. Department of Labor, the median annual income of a U.S. worker is $32,140. Federal minimum wage is currently $5.85 an hour, or about $11,500 per year ? just above the poverty line. Of the 76.5 million people paid by the hour in the United States in 2006, 2.2% make minimum wage or less. Here are some generalizations we can make about minimum wage workers:
Most minimum wage earners are young. While 2.2% of all hourly workers earn minimum wage or less, just 1.4% of workers over the age of 25 are paid at or below the Federal minimum wage. More than half (51.2%) of minimum wage workers are between 16 and 24 years old. Another 21.2% are between 25 and 34.
Most minimum wage earners work in food service. Nearly two-thirds of those paid minimum wage (or less) are food service workers. Many of these people receive supplemental income in the form of tips, which the government does not track.
Most minimum wage earners never attended college. Just 1.2% of college graduates are paid the minimum wage. If you only have a high school degree, you?re more likely (1.9%) to be paid minimum wage. Those without a high school degree are nearly three times as likely (3.7%) to earn minimum wage. 59.8% of all minimum wage workers have no advanced education.
Finally, as you might expect, part-time workers are five times more likely to be paid the minimum wage than full-time workers. "
"Many workers begin their post-school careers in jobs paying the minimum or something close to it, but?the vast majority of workers move on to higher paying jobs as they accumulate experience.
However, there is a nontrivial fraction of workers who spend substantial portions of their early careers consistently working in minimum wage jobs. [...] Less educated persons, blacks, women with young children, and workers who reside outside of urban areas are much more likely to have such minimum wage careers."
According to those numbers, 2.2% of 76.5 million workers earn the Federal Minimum wage or less...that's 1,683,000. NOT an insignificant number.